NBA rumors: Latest news from the off-season and Olympics

The Olympic basketball semifinals are Friday, with the United States taking on Spain and Serbia taking on Australia. Serbia's run has been particularly impressive, with Nikola Jokic the only player on an NBA roster. The bronze and gold medal games are scheduled for Sunday.

Check out the latest NBA news and rumors below.

• Jason Terry is close to signing with the Milwaukee Bucks, ESPN's Marc Stein reports. Terry would provide three-point shooting and veteran leadership.

• Tony Parker doesn't plan on retiring any time soon. The 34-year-old point guard told USA Today that he wants to play five more years and retire with the San Antonio Spurs.

• The Miami Heat added veteran point guard Beno Udrih earlier this week, but he has not been guaranteed playing time. The Miami Herald reports head coach Erik Spoelstra wants Udrih to add veteran leadership.

• The Cleveland Plain Dealer reports there isn't much interest in guard J.R. Smith from other NBA teams because of Smith's previous actions on and off-the-court. Smith wants a multi-year deal worth $15 million per season.

• Caron Butler has interest in joining the New York Knicks, reports Anthony Donahue of SNY. Butler played for the Sacramento Kings last year, but saw action in only 17 games.